BNY Mellon Asset Servicing will administer the back-office and provide custody for Cowen Asset Management, LLC, the recently launched asset management firm of Cowen Group, Inc. BNY Mellon Asset Servicing will provide a number of outsourcing services, including transaction processing, custodian reconciliation, performance measurement and analytics, and investor reporting.
“We are pleased to be have been selected by Cowen to provide back-office support for its new asset management arm. We intend to provide Cowen with top-notch client service and technology, enabling Cowen to concentrate its resources on investment strategies and other front-office areas where it has a competitive edge,” says James P. Palermo, co-chief executive officer, BNY Mellon Asset Servicing.
Cowen Asset Management, LLC, a wholly-owned subsidiary of Cowen Group, Inc., is a diversified financial services firm serving corporations and financial institutions around the world, is a newly formed investment management company focusing on the traditional institutional marketplace. It currently operates out of Boston and London and offers a range of equity investment strategies.
BNY Mellon Asset Servicing offers clients a range of specialised asset servicing capabilities, including custody and fund services, securities lending, performance and analytics, and execution services. BNY Mellon Asset Servicing provides services through The Bank of New York, Mellon Bank, N.A. and other related companies.